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Business and Economy

Old Town Pulp Mill Shuts Down, Furloughs 180 Workers

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Courtesy Old Town Fuel and Fiber
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A wood pulp mill in Old Town is suspending operations "indefinitely."  

Old Town Fuel and Fiber announced Wednesday that it's closing down its pulp operations and putting about 180 workers on furlough, the Portland Press Herald reports.

Company officials cite foreign competition and high wood and energy costs for the closure.

Old Town City Manager Bill Mayo says in a statement that the city will work with the mill and state officials to find a new buyer for the facility.

The former Georgia Pacific mill was acquired by Patriarch Partners, LLC, a New York-based private equity firm, in November, 2008.